Firm Gets an Ohio Bank Loan

Small business loans in Ohio are are few and far betweeen these days. We take a look at one Ohio small business loan, provided by an Ohio bank, that was approved by the SBA.

This business, based in Tallmadge, Ohio, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from St. Bank & Trust. We've got the inside scoop on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
TALLMADGE, OH 44278

SBA Loan Lender

ST. BANK & TRUST
401 CLINTON ST
DEFIANCE, OH 43512

At the time this loan was granted, this bank was part of the SBA's Certified Lenders Program (CLP). This program was created to provide expeditious service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332710 - Machine Shops

Loan Approval Date

3/7/2001

Loan Approval Gross Amount

$205,000

Loan Approval from the SBA

Of the total $205,000 loan amount, the SBA guaranteed $153,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 18 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like St. Bank & Trust and they will explain how you can get an SBA loan for your company.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Small Business Credit Cards

SBA 7A Banks in Defiance, Ohio

Where to Get an SBA Loan Ohio